MADRID | Capital Madrid | The Spanish savings banks or cajas, unlisted entities often linked to the country’s regions, have come under intense scrutiny since the beginning of the crisis, as some became associated with the worst excesses of the banking sector. But they have already started a restructuring process: by 2015 they will be 35% smaller.
What is threatening the Spanish pension system, Francisco Martín Seco says, is not a longer life expectancy or the population pyramid but policies that drive the entire economy into a permanent recession, like reforms to make the tax system more regressive.
There is a mirroring effect in all these conflicts: Europeans appear unable to talk about the actual issues that trouble them, that is, debt and democracy.
BARCELONA | The Catalan clothing company Mango posted a €1.69 billion turnover for last year and plans expansion in Europe and Latin America.
LONDON | Fitch expects that the sector’s restructuring efforts fuel the higher level of consolidation seen since the reforms started last year.
MADRID | Spain has proven that it can make economic adjustments and it is competitive, laying the groundwork for foreign direct investment (FDI) confidence to remain upbeat on the country’s economic prospects.
By Javier Niederleytners, professor at the Institute for Stock Exchange Studies IEB | Market pressure right now has relaxed over the country’s public debt and it seems to be a good moment to sell part of their bond holdings to cancel ECB loans.
BARCELONA | By CaixaBank analysts | Both for the population as a whole and in particular for the child population, basic needs are relatively well covered in Spain.
MADRID | Making them pay will prove difficult. Speaking to Hispanidad.com, tax lawyer Eduardo Cardona said most clubs have no assets to be seized.
MADRID | Two German economic heavyweights are stirring the debate about the Spanish recovery: IFO President Hans-Werner Sinn, who recently said that “Spain will suffer 10 more years of crisis and an internal devaluation of 30%”, and Bundesbank Chairman’s, who thinks the crisis will last five more years. Both of them were as clear and firm as Germans usually are when speaking about Southern Europe.